Why Hyatt Hotels Shares Are Falling Today
Portfolio Pulse from Shivani Kumaresan
Hyatt Hotels Corp reported Q2 FY23 sales growth of 15% YoY to $1.71 billion, beating the analyst consensus of $1.65 billion. However, its adjusted EPS of $0.82 missed the analyst consensus of $0.83. The company repurchased 969,000 shares for $108 million in Q2 and had a consolidated debt of $3.1 billion at the end of Q2. Hyatt's shares are trading lower by 8.4% at $112.02.
August 04, 2023 | 1:42 pm
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Hyatt's Q2 FY23 sales beat expectations but EPS missed, leading to a drop in share price.
Hyatt's Q2 sales exceeded analyst expectations, indicating strong performance. However, the company's EPS fell short of estimates, which may have disappointed investors and led to the drop in share price. The company's share repurchase and debt level may also have influenced investor sentiment.
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